Business Week's No. 3 Company - Allegheny Technologies

No. 3: Allegheny Technologies

Industry: Materials
Sales: $5.5 billion
Net Income: $747.1 million
Allegheny Technologies' (ATI) titanium is a vital material for airplanes and jet engines and is a key ingredient in the hot-selling, though oft-delayed, Boeing 787 Dreamliner. In 2007, such so-called high-performance metals kicked in 76% of the Pittsburgh company's $1.2 billion in operating profits, despite making up just 40% of sales. CEO Patrick Hassey has committed more than $800 million to expanding production. Shares have slumped in the past year, though, as higher materials costs have led industrial customers to cut back on orders for stainless steel, a big revenue source.